Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been oversubscribed by 186%. Subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days. The expected return on the issue, which...
COP27: ACG to give $24bn for climate action by 2030
The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems, and the promotion of energy security.UAE’s climate initiatives to benefit private sector
The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of its support for sustainable financing solutions for all sectors. This is alongside a comprehensive assessment of the status and movement of sustainable financing solutions, she adds.Qatar Central Bank issues treasury bills, sukuk worth $1.6 billion
Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 billion. In a statement, QCB stated that the treasury...Arada closes $100m tap on its Sukuk
Its existing Sukuk valued $350m was issued in June.Saudi Center for Debt Management invites investors for bond repurchase
Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial repurchase of US dollar-denominated bonds due in the years 2023, 2025 and 2026. The Center said the process is part of the kingdom’s plan in the effective management of the...Low carbon demand spurs green sukuk growth
With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.Riyad Bank to offer sukuk
The bank offering will be denominated in Saudi riyals.Arada H1 property sales up
The developer sold homes valued at $405m in Sharjah.EDB to take part in Bonds, Loans & Sukuk Middle East
Emirates Development Bank (EDB) will participate in Bonds, Loans & Sukuk Middle East, the region’s largest gathering for the corporate and investment banking industry.Arada issues $350m Sukuk
The deal has been listed on the London Stock Exchange.IDB lists US$ 1.6 billion Sukuk on Nasdaq Dubai
The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution.Moody’s depicts a bleak outlook for sukuks in 2022
Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and lower financing needs in the GCC.Sukuks cast their spell beyond GCC markets
The total green sukuk market is worth more than US$15 billion, according to Refitiniv, with the Islamic Development Bank (IsDB) being the first in the market with a US$ 2.5 bn offering. However, figures show that Sustainability and green-themed Sukuk were rising in 2021, mainly since large entities are investing...Bahrain-based GFH Financial Group launches GCC $100m Sukuk Fund
GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million sukuk fund which holds a diversified portfolio of sukuk, following signing agreement with Credit Suisse to provide financing and fund administration services. The fund holds a portfolio of sovereign, quasi...Saudi Arabia to issue second local sukuk for the year
For the second time this year, the Saudi government will issue riyal-denominated sukuk for the year, seeking to take advantage of huge interest in the bonds.Dubai Islamic Bank issues $750m five-year sukuk
Dubai Islamic Bank has successfully priced its $750 million five-year senior sukuk, taking advantage of global interest in Islamic bonds. The bank is the largest Islamic lender in the UAE.Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings
Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37 percent, and $28.6 billion in 2019, according to S&P Global Ratings In 2021, while the global sukuk issuance reached $$147.4 billion compared with $$148.4 billion in 2020, foreign-currency denominated sukuk...Emirates Islamic 2021 net profit $224m on higher non-funded income
Emirates Islamic’s net profit jumped to AED 823 million ($224 million) for 2021 on higher non-funded income and a significant reduction in the cost of risk reflecting the strong economic recovery, the bank said. The bank, which is one of four Islamic banks in Dubai, said in a statement that...S&P warns of fewer sukuk issues during 2022
Sukuk issuance volumes will not grow significantly in 2022 as global interest rates rise and funding needs for Gulf economies fall, according to a report from S&P Global Ratings.Sharjah Islamic Bank’s net profit up 27%
The bank also reported AED850.7 million in operating profits, an increase by 21.9 percent, compared to AED697.7 million in the previous year.Al Rajhi issues $1.17 bn Sukuk
The settlement issuance was set on 23 January 2021.Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai with the ringing of the market-opening bell by its CEO Shaheen Al-Ghanem. Emirati media reports said this is the third Sukuk listing by Warba Bank on Nasdaq Dubai, following the...Growing Islamophobia hits Islamic banking in Europe
The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers from the Covid-19 pandemic. But it may not be the case in the Europe.Emirates Islamic lists US$500m sukuk
The five years’ benchmark issuance, rated A+ by Fitch Ratings, was priced at 2.082%.Saudi Arabia sells dual-tranche bonds for $3.25 billion
Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC) has announced. The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031, while the second tranche of $1.25 billion is for a 30-year...IsDB lists sukuk on Nasdaq Dubai
The $1.7bn listing strengthens its position as the largest Sukuk issuer on the bourse.Sukuk momentum may continue over the medium term on investor appetite: Fitch
Sukuk momentum is expected to continue over the medium term supported by intact investor appetite, funding diversification and refinancing needs, Fitch Ratings has said in a report. “Sukuk supply-demand imbalance will continue to be a key growth factor but not without headwinds,” said Bashar Al-Natoor, Global Head of Islamic Finance,...Saudi bourse joins new emerging-markets index
The Saudi Stock Exchange will be added to its widely followed Emerging Markets Government Bond Index (EMGBI), the global index provider FTSE Russell has announced.Innovation, partnerships put Dubai at forefront of financial markets: Analysis
DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai at the frontier of global financial centers, an analysis says. Summarized in the Policy Briefs Series of Dubai Competitiveness Office, the analysis of the financial markets in the emirate cited...Kuala Lumpur-based IILM reissues $1.25 bn short-term Sukuk
IILM's Governing Board includes the central banks and monetary agencies of UAE and Qatar as members. It is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services.Sukuk worth $174.6 billion issued globally in 2020
Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021Emaar marks sukuk listing with bell
Emaar Chairman rings Nasdaq Dubai bell to celebrate $500m Sukuk listing.Dubai’s Emaar may raise $500 million via Islamic bonds
The builder of the world's tallest building, Dubai's Burj Khalifa, last issued international bonds in 2019, raising $500mln via sukuk Emaar is 29.22% owned by state fund Investment Corporation of Dubai Dubai real estate company Emaar Properties has hired banks for issuance of US dollar-denominated Islamic bonds, or sukuk,...HSBC Saudi Arabia lead manager in ACWA power’s maiden Sukuk issuance
Final pricing lowest ever senior unsecured Sukuk pricing achieved by a corporate or bank issuer since 2017 HSBC Saudi Arabia also acted as bookrunner, Sukuk holders’ agent and payment administrator HSBC Saudi Arabia acted as the arranger and dealer on the establishment of ACWA Power’s SAR 5 Billion ($1.33b)...Aramco disburses in full international trust certificates for $6 billion sukuk
The company issued 30,000 sukuk with a par value of $200,000 each The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk The Saudi oil giant, Aramco, has said that it completed disbursing international trust certificates for $6 billion of sukuk. The company issued 30,000 sukuk with a par...Saudi Aramco unveils first dollar sukuk bond
The bonds will be issued in three tranches The deal will consist of three, five and ten year tranches Saudi Aramco has unveiled its first US. dollar-denominated sukuk bond on Wednesday, which will be issued in three tranches, Reuters reported. The deal will consist of three, five and ten...Saudi Aramco meets investors ahead of first dollar Islamic bond sale
World's biggest company mandates Alinma Invest, Goldman Sachs, HSBC, J.P. Morgan for meetingsEmirates REIT rescinds voluntary consent solicitation
A majority of Sukuk holders voted in favor of solicitation but support fell short of the required 75 percent mark